There are clear rules on when an age-based withdrawal is possible. And the earliest point in time surprises some who assume a higher age.
The age-based withdrawal of vested benefits is possible at the earliest at age 60, that is, five years before the ordinary reference age of 65. Anyone who wishes can withdraw their savings from this point on, but is not obliged to do so at this early date. The withdrawal can also be postponed. The distinction is important: this concerns the ordinary, age-based withdrawal. In addition there are special circumstances such as the purchase of owner-occupied residential property, taking up self-employment or a definitive move abroad, in which a withdrawal is possible earlier too.
Not age 58, not age 59 and not age 61, but age 60 is therefore the earliest ordinary point in time. Anyone planning an early retirement or a staggered capital withdrawal should know this date, because it opens up valuable scope for shaping the transition into retirement.